Hoth Therapeutics Stock Explodes As Rocket One Ticker Change Puts Tiny Biotech Into Space-AI Trade
Hoth Therapeutics shares jumped 71% to $1.21 in heavy trading after the company said it will change its name to Rocket One Inc. and switch its Nasdaq ticker to RKTO on May 28. The firm will shift focus from biotech to space, defense, and nanomagnetic AI chips, with legacy drug programs moving to a subsidiary. Hoth reported no revenue and a $2.7 million net loss last quarter.